Enviva Partners plans $215 million facility with common units IPO

By Sara Rosenberg

New York, Oct. 29 – Enviva Partners LP plans on getting a new $215 million five-year senior secured credit facility in connection with its initial public offering of common units, according to an S-1 recently filed with the Securities and Exchange Commission.

The facility consists of a $40 million revolver and a $175 million term loan.

Pricing on the revolver and term loan is expected at Libor plus 375 basis points.

Proceeds will be used to refinance existing credit facility debt and to make a distribution to the company’s sponsor.

Enviva is a Bethesda, Md.-based supplier of utility-grade wood pellets to power generators.

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